EVENING SNAPSHOT – Europe Markets Summary

14 January 2013 17:06  [Source: ICIS news]

LONDON (ICIS)--Here is Monday’s end of day European oil and chemical market summary from ICIS.

CRUDE: February WTI: $93.45/bbl, down 11 cents/bbl. February BRENT: $110.95/bbl, up 31 cents/bbl
Earlier gains were wiped out when the US markets opened with gasoline losing ground, but prices subsequently recovered some losses.

NAPHTHA: $903-905/tonne, up $7/tonne
The cargo range climbed from earlier in the day, with three trades taking place this afternoon. February swaps were assessed at $903-905/tonne.

BENZENE: $1,375-1,385/tonne, narrowing
The bid level for January moved up this afternoon and there was an unconfirmed deal heard at $1,380/tonne. The range narrowed to reflect this. February bids also firmed this afternoon to $1,380/tonne.

STYRENE: $1,655-1,675/tonne, up $15/tonne
The range for January widened to $1,630-1,665/tonne in an uncertain market, but later firmed in line with higher upstream numbers. February was also firmer, moving up to $1,670-1,685/tonne, with some bullishness emerging for the front month ahead of numerous scheduled shutdowns.

TOLUENE: $1,310-1,330/tonne, steady
The market was quiet and the range was steady, with slow demand and illiquidity counterbalanced by firmer crude and energy numbers.

MTBE: $1,202/tonne, down $18-28/tonne
Prices decreased with a solitary afternoon deal. EuroBob gasoline traded at $967-973/tonne, putting the MTBE factor against cash barges at 1.24, down three points.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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